977 Shares in Atlassian Co. (NASDAQ:TEAM) Acquired by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. acquired a new position in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 977 shares of the technology company’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TEAM. Point72 Asset Management L.P. boosted its holdings in shares of Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after buying an additional 617,566 shares during the last quarter. Two Sigma Advisers LP raised its stake in Atlassian by 122.0% during the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after acquiring an additional 551,500 shares during the period. Westfield Capital Management Co. LP bought a new stake in Atlassian during the 3rd quarter worth approximately $57,149,000. Parnassus Investments LLC raised its stake in Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after acquiring an additional 245,286 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in Atlassian by 12,047.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock worth $55,521,000 after acquiring an additional 226,246 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Oppenheimer raised their target price on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Truist Financial restated a “buy” rating and set a $350.00 target price (up previously from $300.00) on shares of Atlassian in a research note on Friday, January 31st. StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Scotiabank lifted their price objective on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average price target of $319.71.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $236.89, for a total transaction of $1,882,801.72. Following the completion of the sale, the chief executive officer now directly owns 421,244 shares of the company’s stock, valued at approximately $99,788,491.16. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $254.76, for a total transaction of $387,235.20. Following the sale, the president now directly owns 211,991 shares of the company’s stock, valued at $54,006,827.16. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 272,501 shares of company stock valued at $74,977,422 over the last three months. 38.55% of the stock is owned by company insiders.

Atlassian Stock Down 4.7 %

NASDAQ TEAM opened at $238.86 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a fifty day moving average of $276.11 and a two-hundred day moving average of $231.65. The firm has a market capitalization of $62.58 billion, a price-to-earnings ratio of -178.25 and a beta of 0.87. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. On average, analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.